Corporate News

The Board of Golden Ocean Group Limited is pleased to announce the appointment of Ulrik Uhrenfeldt Andersen as the new Chief Executive Officer of Golden Ocean Management AS from Tuesday, April 14, 2020. Mr. Andersen comes from a position as Chief Executive Officer of Avance Gas AS and previously worked as Head of Shipping for Petredec, Managing Director for Neu Gas Shipping, and Head of the Maersk VLGC Pool. Management skills and strategic insight We are confident Ulrik will move the Company...

FESCO Transportation Group (‘FESCO’) provided complex agent services for the vessel which was used to transport the platform Odyssey (the launch complex of the Sea Launch floating spaceport) to the port of Slavyanka (the Primorye Territory). FESCO performed operations on the territory of Russia to support and maintain the vessel and prepare all the necessary documents, as well as controlled the unloading of the platform at the destination port.

SD Government, the global satellite connectivity solutions provider, has ratified an agreement with ABS, a global satellite operator, to enhance and strengthen the SD Government global network. The addition of the ABS-3A satellite to the SD Government Southbury, Connecticut teleport services bolsters its reach throughout the Americas, Europe, North Africa, and the Middle East to provide more resilient and robust connectivity solutions through its terrestrial fiber pathways. Data transmission...

A.P. Moller - Maersk announces that it has closed its acquisition of Performance Team, a US-based warehousing and Distribution Company, to further strengthen its capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its customers.  The addition of Performance Team’s engineered solutions and distribution center capabilities to retail, wholesale and direct to consumer services will integrate ideally with Maersk Warehousing & Distri...

ClassNK granted an Approval in Principle (AiP) to SHIN KURUSHIMA DOCKYARD CO., LTD. for their concept design of a 49,000 DWT LNG-fueled chemical tanker. The AiP was granted to the concept design based on its Rule Part GF (regulation for ships using low-flashpoint fuels) incorporating “International Code of Safety for Ships using Gases or other Low flashpoint Fuels (IGF Code), IMO Res. MSC.391(95) and MSC.458(101)”. Design features The main features of the design announced by S...

HMM announced that the company has decided to stop using the name ‘Hyundai Merchant Marine’ as its official corporate name and brand, starting on 1 April 2020. The decision was approved at the 44th Annual Shareholders Meeting of the company, which was held at HMM headquarters, in Seoul, South Korea, on 27 March. The name ‘Hyundai Merchant Marine’ has been used for 37 years, since the company changed its name from the ‘Asia Merchant Marine’ in 1983. ‘HMM...

ClassNK has established its "Rules for the Survey and Construction of Governmental and Naval Ships", technical rules that are applied to governmental ships and their onboard equipment. Overseas transfer of defense equipment ClassNK has established standards for conducting third-party certification of governmental and naval ships During the overseas transfer of defense equipment including governmental ships and their onboard machinery, the equipment may be subject to third-party quality in...

SD Government, the global satellite connectivity solutions provider, has been named Independent Teleport Operator of the Year by the World Teleport Association (WTA), during its 25th annual Teleport Awards for Excellence event. The WTA presents the award to a teleport business whose achievements have been deemed exceptional by industry members from across the globe and selected SD Government as the winner from a field of 35 nominations. Teleport services SD Government was honoured to receive...

Classification Society ClassNK, Japan Marine United (JMU), and NAPA have completed a joint feasibility study on 3D model-based plan approval using 3D CAD models as part of their technical investigation project. Shipbuilding designs are gradually transitioning from 2D drawings to those designed with 3D CAD software. Classification societies, whose plan approvals are currently based mostly on 2D drawings, are also required to develop a scheme for 3D CAD models from their submission to their exami...

Hyundai Heavy Industries (HHI) established for the first time in Korea’s shipbuilding industry ‘Co-Prosperity Business Office’ under the direct control of its CEO, with an aim to build a new win-win business model with its partner companies.   For this, HHI expanded and reorganized the existing business unit responsible for supporting partner companies, led by a Senior Vice President-level Executive, into Co-Prosperity Business Office with three departments staffed with...

Provided by Zurich, this new service will offer customers the synergy of world-class logistics and insurance solutions. Maersk has teamed up with Zurich Insurance Plc (Zurich) to bring Maersk Cargo Insurance, a product to protect customer’s goods against physical loss or damage. A customers’ cargo can be exposed to various risks while in transit and Maersk Cargo Insurance covers goods from the time they are first moved for loading until the completion of unloading at destination, fr...

Classification Society ClassNK granted an Approval in Principle (AiP) based on its Rule Part N which adopts IGC Code and its Guidelines for Ships Using Low-Flashpoint Fuels to Daihatsu Diesel for their concept design of an LPG reformed gas-fuelled coastal LPG carrier developed in cooperation with Iino Gas Transport, Osaka Gas, Izumi Steel Works, and Miura Shipbuilding in terms of safety assessments. The Vessel is designed to be equipped with an LPG reformer developed jointly by Daihatsu Diesel...

On the afternoon of December 3, 2020, the China Shipping 50 Forum, acclaimed as a think tank in the shipping industry, held its 7th annual meeting in Qingdao. As a member of the Forum, Chairman of CULines Raymond Chen attended the meeting upon invitation. Guest attending the event The event gathered top-class experts and scholars from the port and shipping logistics sector The event gathered top-class experts and scholars from the port and shipping logistics sector, senior executives at...

Neptune Pacific Line (Neptune) announced it has acquired Pacific Direct Line (PDL) from PDL’s parent holding company, Pacific International Lines (PIL). The combined business will seamlessly link transport, warehousing, depots, and customs clearance services and fully integrate customers’ supply chains across 18 South Pacific markets. The acquisition of PDL will strengthen Neptune’s Melanesian and Polynesian network, provide a link to Micronesia and the French territories, and...

Maritime engineering business - Cammell Laird is celebrating the valuable contribution of its female members of staff on International Women’s Day. Held all over the world on Sunday 8 March, International Women’s Day celebrates the social, economic, cultural and political achievements of women and makes a call to action for women’s equality. Office-based roles Cammell Laird has a number of female employees working in engineering and office-based roles Cammell Laird has a nu...

Satcom Direct (SD), the business aviation solutions provider, is showcasing how the intelligent data and communications platform, SD Pro®, improves modern flight operations management via standardised operating procedures and data protocols, at the NBAA Schedulers and Dispatchers Conference, booth 1835. Leveraging elements from its aircraft connectivity services, hardware platforms, and ground network infrastructure, SD is uniquely positioned to create a centralised data management ecosyst...

Classification Society ClassNK released its CBM Guidelines that explain the revised rules for using Condition Based Maintenance (CBM) in-class surveys to promote the use of CBM technology. Condition-based maintenance Condition-based maintenance, a method for monitoring the operating state of equipment, diagnosing the state of said equipment based upon the information obtained from such monitoring, and then performing necessary maintenance and inspections, has been attracting attention in recen...

FESCO Transportation Group announces the appointment of Maxim Sakharov as the Group’s President effective March 6, 2020. Maxim Sakharov, previously Vice President for Finance, will replace Aleksandrs Isurins who is stepping down as the Group’s President on the same date. Authority comment “On behalf of the Board of Directors, I want to thank Aleksandrs Isurins. During the time he served as the President, he implemented a number of strategic projects, restructured public debt...

Ocean Infinity, the next-generation marine robotics company announces that it has completed its project with Total E&P in Angola, one of the main branches of Total, a major energy player worldwide. Maximising sub-sea survey operations The project was the first time that geophysical, geotechnical, and seismic data has been gathered at the same time. This was achieved through simultaneous operations of Ocean Infinity’s state-of-the-art Autonomous Underwater Vehicles (AUVs) wi...

Ocean Infinity, the next-generation marine robotics company announces that it has completed its project with Total E&P in Angola, one of the main branches of Total, a major energy player worldwide. Maximising sub-sea survey operations The project was the first time that geophysical, geotechnical, and seismic data has been gathered at the same time. This was achieved through simultaneous operations of Ocean Infinity’s state-of-the-art Autonomous Underwater Vehicles (AUVs) wi...

ClassNK obtained accreditation on January 23, 2020, from the Japan Accreditation Board (JAB) as a GHG emissions verification body based on the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) by the International Civil Aviation Organization (ICAO).Although global warming countermeasures are being discussed at the United Nations Framework Convention on Climate Change (UNFCCC), GHG emissions control in the international aviation sector, which operates across borders, will...

The Board of Directors of Pacific International Lines (Private) Limited (“PIL”) announces that Mr. Kwa Wee Keng is appointed Executive Director – Finance Division of PIL with effect from 15 February 2020. He is responsible for PIL Group’s finance and treasury activities. Kwa Wee Keng Wee Keng graduated with B. Acc (Hons) and a Master’s degree in accountancy from Nanyang Technological University, Singapore. He also holds an MBA with Distinction from The University...

A.P. Moller - Maersk secures a new sustainability-linked revolving credit facility of $5.0bn through a syndicate of 26 selected banks. This is the first bank refinancing arranged by Maersk after its transformation from a diversified conglomerate to a global container logistics company. The facility refinances the undrawn $5.1bn facilities maturing in 2021 and has a tenor of five years which may be extended by up to two years. It will be part of the company’s liquidity reserve. Financia...

A.P. Moller - Maersk secures a new sustainability-linked revolving credit facility of $5.0bn through a syndicate of 26 selected banks. This is the first bank refinancing arranged by Maersk after its transformation from a diversified conglomerate to a global container logistics company. The facility refinances the undrawn $5.1bn facilities maturing in 2021 and has a tenor of five years which may be extended by up to two years. It will be part of the company’s liquidity reserve. Financia...

In recent years, with the growing need for ESG investment and SDGs management, social transformation utilising digital technology is rapidly progressing. In the maritime industry, attempts are being made to create new value by collecting and utilising data on ship operations and cargo movements and sharing it among different players to promote further innovation. Advances in digital technology are also introducing unprecedented ways of ensuring safety, such as data condition monitoring and...

The members of the Alliance, Hapag-Lloyd, Hyundai Merchant Marine, Ocean Network Express, and Yang Ming announced updated details of the 2020 Service Network, focusing on the Asia-Middle East trade lane. The Alliance will introduce three newly organised express loops from early April and these services will provide higher frequency, direct and expanded coverage, and the fastest connection from the respective regions. Asia and the Middle East AG1 Ningbo – Kaohsiung – Xiamen &ndas...

As part of Pacific International Lines’ (PIL) continuous effort to optimise its network efficiency, the company will be withdrawing its services from the Transpacific market. As a result of this service re-alignment, PIL’s last Transpacific sailing will be in March 2020. Strategic decision The Company has taken this decision as part of a wider strategic review of its business. Henceforth, PIL will focus on further strengthening its position in the North-South Trade such as Africa,...

SBM Offshore is pleased to announce a EUR 150 million (c. US$165 million) share repurchase program, effective from February 13, 2020. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Share repurchase program The Execution of the share repurchase program will be done under the terms of an engagement letter with a third party The repurchase program is expected to be completed within the year 2020, an...

CUL Shining Shipping Co., Ltd. was established on October 29, 2015, as a subsidiary held and operated by China United Lines Ltd. (CULines). CUL Shining Shipping is mainly engaged in the barge transportation of containers and bulk cargoes in the Yangtze River. It owns dozens of self-operated barges and is able to dispatch more than 300 barges. Branch lines for domestic trade CUL Shining Shipping owns a branch line network connecting Shanghai to the upper and middle reaches of the Yangtze...

The Norwegian Shipowners Association follows the development of the Corona virus (COVID-19) closely and has a good dialogue with its members, and other actors about the situation. A large number of people in China and elsewhere in the world have been infected, and more than 600 deaths have been reported. COVID-19 implications for shipping industry Norwegian shipping companies operate all over the world and are thus, directly affected by the development Norwegian shipping companies operate all...